The Grey Tsunami Will Crash Upon Us
Many people have heard the term Grey Tsunami but are not sure exactly what it means. To put is frankly, the Grey Tsunami is the fast approaching and aging Baby Boomer generation. The grey tsunami will crash upon us, regardless of what we do.
This generation makes of 30% of our population across Canada. It also makes up the majority of the country’s wealth.
Some people may say, what’s the big deal?
It is a problem because this huge demographic is living longer than previous generations and there is not enough fully accessible housing for them to move in to. Long Term Care homes, retirement homes, and independent living communities have long waiting lists of over two years.
Those are stats for today.
By the time 2030 comes along, the amount of people over 70 DOUBLES!
We simply can’t build enough appropriate housing to deal with this fast approaching aging population.
There will be nowhere appropriate for them to live. Because of this, many families will be forced to live in their current homes and struggle. The Gen Xs and Millennials will be the “Sandwich Generations” trying to care for their young children, work full time, and help their aging parents. And many will be forced to do this in a home that is not set up for home care.
Some say, well mom can go to a retirement home when she is ready. But the fact is, there will be no retirement home for mom to go to.
People need to wake up!
Construction costs are continuing to rise. Any appropriate fully accessible housing will become expensive to build and there will be a huge demand with very little inventory.
Consequently, Boomers are buying all of the small starter homes which is taking up affordable housing for first-time home-buyers.
Click HERE to learn more about Sound Lifestyles and their communities and how their communities and business model can help.
Don’t believe us? Check out these recent articles:
Senior Care Advice Article – Click HERE
Boomers and Millennials competing for the same small home – Click HERE